marketing exam 2

The three purposes for which individuals or groups can use products in order for it to be considered a business market are
a) use in daily operations, end consumption, and resale.
b) direct use in producing other products, company travel, and end consumption.
c) resale, use in daily operations, and direct use in producing other products.
d) governmental, institutional, and reseller purposes.
e) making other products, selling to other businesses, making component parts.

c

In business markets, individuals or groups purchase products for one of three purposes. These purposes are
a) resale, wholesale, and direct use.
b) wholesale, direct use, and use in producing other products.
c) resale, wholesale, and use in producing other products.
d) resale, direct use in producing other products, and use in general daily operations.
e) use in general daily operations, wholesale, and resale.

Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ___________ markets
a) consumer
b) institutional
c) producer
d) government
e) reseller

Individuals and business organizations that buy finished goods and resell them to make a
profit without changing the physical characteristics of the product are classified as ___________
markets.
a) consumer
b) institutional
c) producer
d) government
e) reseller

e

Mike’s Roadside Market buys produce from area farmers, marks the merchandise at a price
that includes some profit, and then sells the fruit and vegetables to the people in and around
Centerville. Mike’s would be classified as part of a ___________ market.
a) consumer
b) producer
c) government
d) reseller
e) wholesaler

d

Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of
manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools,
Inc. The company would be part of what type of business market?
a) Reseller
b) Producer
c) Consumer
d) Government
e) Supply

a

Retailers like Target and Kmart are considered to be members of which business market?
a) Reseller
b) Customer
c) Producer
d) Institutional
e) Services

a

Kroger Grocery Store is an example of a reseller. Which of the following factors concerning
reseller purchase decisions is false?
a) Resellers are concerned with the level of demand for the product.
b) Resellers are not concerned with how much space the product takes up as long as it has a
high price.
c) Resellers want producers to be able to supply adequate quantities of the product.
d) Resellers are concerned with the availability of technical and promotional assistance from
the producer.
e) Resellers are concerned with the markup percentage they can get on the product.

b

***Which type of business market tends to have the most complex buying procedures?
a) Reseller
b) Producer
c) Consumer
d) Government
e) Supply

d

The recently created Department of Homeland Defense is a member of the _____ market.
a) Reseller
b) Producer
c) Consumer
d) Government
e) Supply

d

About what percentage of the annual U.S. gross domestic product is government spending?
a. 30%
b. 10%
c. 20%
d. 50%

c

Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ___________ market.
a) Reseller
b) Customer
c) Producer
d) Institutional
e) Services

Institutional markets are
A. Discourages lenders from making loans
B. Occurs after the transaction
C. A borrower engaging in risky activity with loan funds.
D. organizations that seek nonbusiness goals.

D

A Pillsbury mill in Utah buys grain from growers in the western region. The purchasing agent for Pillsbury will most likely use which buying method?
A)Description
B)Inspection
C)Sampling
D)Negotiation
E)Selection

c

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?
A)Description
B)Inspection
C)Sampling
D)Negotiation
E)Selection

a

If a business owner buys parts by specifying the quantity, grade, and other attributes, whichbuying method is he or she using?
A)Description
B)Inspection
C)Sampling
D)Negotiation
E)Selection

a

Which method of business buying is necessary when products are highly homogeneous and examination of each item is not feasible?
A)Description
B)Inspection
C)Sampling
D)Negotiation
E)Selection

c

St. Jude’s Hospital decides to redo its kitchen with new flooring, cabinets, counters, and appliances. The hospital compiles a description of the project and then asks sellers to submit bids. After determining the most attractive bids, the hospital will then work with two or three companies to determine who will get the contract. This is an example of using ______ for a purchase decision.
A)Description
B)Inspection
C)Sampling
D)Negotiation
E)Selection

d

Natalie Simopoulos, director of procurement at Grecian Glass Company must approve every purchase order, and Anthony Markatos, purchasing manager, must authorize any sales rep who wants to talk to a Grecian Glass employee. Natalie and Anthony are acting as _____ and _____, respectively.
A. decider and gatekeeper
B. influencer and user
C. gatekeeper and influencer
D. buyer and decider
E. user and gatekeeper

a

**Often the most difficult step in the marketing research process is:
A. analyzing the situation.
B. defining the problem.
C. getting problem-specific data.
D. interpreting the data.
E. All of the above.

b

Which of the following statements concerning secondary data is correct?
A. Secondary data usually takes longer to obtain than primary data.
B. Secondary data is only available within the firm.
C. Secondary data was originally collected for some other purpose.
D. All of the above are correct.
E. None of the above are correct.

c

Which of the following statements about secondary data is correct?
A. Secondary data is obtained only from sources outside of the firm.
B. Secondary data may be available much faster than primary data.
C. Results of “old” surveys are not secondary data.
D. Secondary data is usually more expensive to obtain than primary data.
E. All of the above are true.

b

**Demand for business products is also known as ______ demand.
a) Reseller
b) Customer
c) Producer
d) Industrial
e) Services

d

Marketing research:
A) is only needed by producers who have long channels of distribution.
B) should be planned by research specialists who understand research techniques better than marketing managers.
C) is needed to keep isolated marketing managers in touch with their markets.
D) consists mainly of survey design and statistical techniques.
E) All of the above.

c

With the globalization of markets, the tastes and preferences of consumers world-wide are:
A. becoming similar to the tastes and preferences of American consumers.
B. so different that they can be ignored by international organizations.
C. converging upon a global norm.
D.being encouraged by multinational organizations to become increasingly similar.

C

The main advantage of a differentiation strategy in international markets lies in that:
A.imitators cannot reduce margins.
B.the focus is taken away from price.
C.it enables brand stretching and extension.
D.consumers in foreign markets pay less for the same product.

B

The goals of international marketing are to:
A.eliminate competition in international markets.
B.create and retain customers in global markets.
C.gain market share and increase profit.
D.expand business activities abroad.

B

Being a global organization means:
A.creating standardized products for homogeneous markets.
B.customizing the product range for each segment in part.
C.creating both standardized and customized products.
D.any of the above.

C

Which of the following represents a company’s effort to identify and categorize groups of customers and countries according to common characteristics?
A.Global targeting.
B.Global positioning.
C.Global market segmentation.
D.Global marketing research.

C

A global market leader is an organization which:
A.has more than 50% global market share.
B.has the monopoly over several foreign markets.
C.is recognized as being ahead of the rest in terms of market share.
D.is ahead of the competition in terms of global innovation.

C

The main aim of global marketing is to:
A.satisfy global customers better than competition.
B.coordinate the marketing activities within the constraints of the global environment.
C.find global customers.
D.achieve all of the above.

When following the five-step marketing research approach, developing the research plan is the__________ step.
A) first
B) second
C) third
D) fourth
E) fifth

b

Which of the following is NOT part of the five step marketing research process discussed in the text?
A) defining the problem
B) solving the problem
C) analyzing the situation
D) interpreting the data
E) developing the marketing information system

e

Inflation is a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.
True or False

true

An economic recession increases demand for products and services.
True or False

Which of the following is NOT a demographic characteristic of a population?
a. income level
b. age
c. values
d. education
e. birthrate

c

Refer to Dog Spa. The uncontrollable environmental factors Tumlin faces in terms of zoning restrictions for the new dog salon represent _____ factors.
a. economic
b. political and legal
c. research and development
d. culural

b

1. New product development essential due to
a. Changing customer needs and wants
b. Evolving of new technologies
c. Both a and b
d. None of the above

c

The greatest challenges to e-marketing opportunities lie in ________.
a. countries with emerging economies
b. countries with developed economies
c. countries in Asia
d. countries in South America

a

E-commerce is emerging markets is often hampered, or hindered, by ________.
a. limited use and acceptance of credit cards
b. types of products purchased online
c. clear definition of market segments willing to shop online
d. all of the above

According to the text, _____ percent of US consumers use the internet.
50
60
76
90

76

Using the Internet for marketing research to find out customers needs and wants is an example of:
A. identifying customer requirements.
B. satisfying customer requirements.
C. anticipating customer requirements.
D. none of the above.

A

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